PREIT Appoints JoAnne A. Epps to Board of Trustees

Philadelphia, PA, February 12, 2018 – PREIT (NYSE: PEI) today announced that JoAnne A. Epps, a proven and respected leader currently serving as Executive Vice President and Provost of Temple University, has joined the Company’s Board of Trustees as an independent trustee effective immediately. Ms. Epps will serve as a member of the Nominating and Governance Committee and will stand for re-election at the Company’s Annual Meeting of Shareholders in May 2018.

JoAnne offers extensive experience in board and governance matters. She is a member and former President of the Board of Directors of the Defender Association of Philadelphia, with fiduciary responsibility for the Philadelphia and Federal Defender offices. She served for twelve years as Temple University’s representative to the NCAA, much of which involved issues of institutional governance. Her work with the NCAA was honored by the All-American Football Foundation and by the (then) Atlantic-10 Athletic Conference. She served as a member of the Trinity College Board of Trustees, during which she was a member of the Finance and Audit Committee. She is also a former member of the Board of Directors of the National Association of Women Lawyer’s Foundation, where she chaired the review of Board governance protocols.

Among her many accomplishments, JoAnne was named as one of The Power 100, honoring the 100 most influential minority attorneys, by “On Being a Lawyer of Color” from 2012 through 2015 and as one of the 25 most influential people in legal education by National Jurist Magazine from 2013 through 2016, and in 2011 received the Minority Business Leader Award from the Philadelphia Business Journal.

JoAnne holds a B.A. from Trinity College in Hartford, Connecticut and a J.D. from Yale Law School in New Haven, Connecticut.

JoAnne is an exemplary leader who will make a strong contribution to the PREIT Board. Her extensive and diverse experience will complement the skills and experiences of our current Board members and allow for a fresh perspective to the challenges we face. We look forward to her contributions and counsel.

- Joseph F. Coradino, PREIT CEO

About PREIT

PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages quality properties in compelling markets. PREIT’s robust portfolio of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in the densely-populated eastern U.S. with concentrations in the mid-Atlantic’s top MSAs. Since 2012, the Company has driven a transformation guided by an emphasis on portfolio quality and balance sheet strength driven by disciplined capital expenditures. Additional information is available at www.preit.com or on Twitter or LinkedIn.